TORONTO - BlackBerry says it is committed to completing a series of major changes quickly after posting a nearly billion-dollar loss and a 45 per cent drop in revenue for the second quarter.
The troubled smartphone company reported a loss of $965 million and revenue of $1.6 billion, in line with what it warned when it surprised the market by preleasing dismal earnings projections last week and announcing 4,500 layoffs.
The company posted revenue of $2.9 billion in the second quarter last year.
The adjusted loss was $248 million or $0.47 per share this quarter. That's far below the loss of 16 cents per share projected by Wall Street last week.
Fairfax, BlackBerry's largest shareholder, subsequently announced it plans to make an offer for Blackberry and is trying to attract other investors. BlackBerry cancelled its conference call with analysts Friday in light of that overture.
BlackBerry could soon be owned by Fairfax Financial, the holding company controlled by Prem Watsa (pictured). Here are some of the more recognizable Canadian brands owned in whole or in part by the very diversified Fairfax.
Prime Restaurants Inc.
Canadian firm Prime Restaurants owns East Side Mario's, Casey's, Fionn MacCool's and a number of other restaurant chains recognizable across North America.
The maker of Mega Bloks has been embroiled in a battle with Lego, which accused the company of ripping off its building-block product. But Lego lost its patent on its building blocks two decades ago, and Mega Brands is likely to keep on building its blocks. Pictured here is a Hello Kitty Mega Bloks set.
Known for its high-end silverware and kitchenware, William Ashley outlets can be found anywhere rich people shop. Pictured here, a William Ashley dining set inspired by the British drama 'Downton Abbey.'
Torstar may best be known as the publisher of The Toronto Star, Canada's largest-circulation newspaper, but the company is also behind the wildly successful Harlequin line of pulp romance.
The Brick furniture chain
The Brick is a staple of suburban Canadian malls. The chain was recently bought out by competitor Leon's.
The Toronto-based Sporting Life retail chain is 75-per-cent owned by Fairfax Financial.